The share price of Adani Wilmar continues to rise for the third consecutive session following its listing. Now with the FMCG stock rising more than 15% in early morning trade, the Adani Wilmar share price opened with an upside gap of around 34 per share and went on to reach a new high of 381 per share on the NSE.
The News: According to stock market experts, the stock is fairly priced and should be booked at current levels.
- The high risk traders can hold the stock with a stop loss at around 319 apiece levels as the Adani group stock may rise to 410 levels.
What’s going on: The after discount price of Adani Wilmar shares listed on the NSE and BSE on February 8, 2022 were at the price of 227.
- Adani group stock quickly recovered and began to rise as a result of large-scale buying by stock market investors.
- This FMCG stock has met all brokerage targets in the last two days of trading.
What are they saying: Anuj Gupta, Vice President at IIFL Securities, commented on Adani Wilmar’s new share price target “Today, the share price of Adani Wilmar has breached the 350 level and is trading above it. Those who own this stock and have a high risk tolerance can continue to hold it with a trailing stop loss of 328 for the next possible target of 400 to 410 levels.”
- According to Ravi singhal, Vice Chairman at GCL Securities, “Adani group stock has been rising post-listing and those who have this stock in their portfolio are advised to book profit at current levels whereas high risk traders can hold the counter maintaining stop loss below yesterday’s close of 321.90 per share levels,”
- Singhal even advised traders with a high risk tolerance to keep a trailing stop loss at 319, expecting profit booking at any time now.”